Nifty Trades Above 16,000, Sensex Increases More Than 300 Points, IT Stocks Increase

The opening trades on Friday saw Indian market indices trading higher, driven by increases in equities of consumer goods and technology.

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On Friday, increases in consumer goods and technology sectors drove up Indian equity indices in opening trading.

The domestic indices got off to a good start, according to trends on the Nifty Futures on the Singapore Exchange (SGX Nifty).

Amid a lack of clarity over how aggressively the central banks will raise interest rates to tame inflation, stocks in Asia were trading in a mixed manner. On concerns of a severe economic slump, Wall Street indexes fell over night.

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At home, the 30-share BSE Sensex rose 316 points or 0.59 percent in the morning session to trade at 53,733, while the larger NSE Nifty gained 79 points or 0.49 percent to trade at 16,017.

Mid- and small-capitalization shares were trading strongly, with the Nifty Midcap 100 up 0.45% and the small-cap index up 0.29%.